Vail Announces Planned Improvements

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Vail, CO, July 4 (AP)--High-speed lifts, land acquisitions and increased snowmaking capabilities were among $57 million in improvements Vail Resorts Inc. announced Thursday for its five resorts in Colorado and Wyoming.

The improvements, all scheduled this year, were announced after the company reported a 42 percent increase in income during the third quarter, which ended April 30.

Vail Resorts Development Co. announced a separate, $53 million plan for projects in Colorado and Wyoming, including the Red Sky Ranch golf course and housing development in Eagle County.

Vail Resorts owns the Vail, Breckenridge, Keystone and Beaver Creek ski areas in Colorado and the Grand Teton Lodge Co. in Jackson, Wyo.

Keystone was to get the bulk of improvements, with $21 million set aside for a high-speed lift, the golf course, conference center, snowboarding halfpipes and terrain parks.

Vail would get $12 million in improvements including a high-speed quad lift, guest room renovations and a 25 percent increase in snowmaking capabilities.

Breckenridge, Beaver Creek and Grand Teton Lodge would get less than $5 million each for renovations to facilities and equipment. Breckenridge would also acquire land for parking and other amenities.

About $14 million would go toward improving reservation systems, retail and rental stores, and rental equipment.

Copyright (c) 2000 The Associated Press